Hormones in low amounts in the human body are replaced using hormone replacement therapy (HRT). Patients with a growth hormone deficiency, menopausal women, and older individuals with hypogonadism benefit most from this therapy. HRT comes in a variety of forms, including transdermal patches for the skin and mouth, gels, injections, and implants.
The market for hormone replacement therapy will grow at a strong CAGR of 7.83%, from a value of $24.97 billion in 2021 to $49.25 billion by 2030.
An increase in the prevalence of hormone imbalance disorders in the geriatric and neonatal populations primarily drives the market expansion. The growing need for novel treatment options with better safety outcomes further drives the demand for hormone replacement therapy (HRT).
New goods are being introduced to the market as a result of key firms’ growing involvement in the development of novel medicines.
For instance, Ascendis Pharma A/S gained market clearance from the European Commission in January 2022 for their medicine SKYTROFA. Which is used to treat growth hormone abnormalities in children and adolescents. This medicine is the first once-weekly therapy for paediatric growth hormone insufficiency.
Growing public awareness of hormone deficiencies and diseases is anticipated to fuel market expansion. For instance, the UK-based non-governmental organisation Child Growth Foundation supports individuals with uncommon growth hormone problems. To enhance patients’ quality of life, this group offers information and support to patients, carers, and medical professionals.
The primary drivers fostering the growth of the HRT market is the prevalence of hormonal imbalance disorders among the aging population. The female body is more susceptible to aging due to several hormonal changes, which can result in anomalies and disorders. Fatigue, weight gain, cognitive loss, decreased libido, an aged appearance, and muscle loss are a few of the frequent issues.
The market for hormone replacement therapy has had substantial growth over the last few years and will grow during the forecast period. These diseases will progress in development due to the rising frequency of hormone imbalance problems, aging populations, and the neonatal population. The availability of frequently observed details, developing technological development in the area of drug delivery frameworks, and growing patient knowledge are the factors driving the increase in interest in hormone replacement therapy.
The high cost of replacement therapy and strict regulations put forth by regulatory authorities regarding the use of hormone replacement products due to the rising risk of adverse cardiovascular diseases are the main factors restraining the growth of the global market for hormone replacement therapy.
In the near future, the demand for bioidentical hormone replacement therapy and the usage of telemedicine for hormone replacement therapy will provide a lucrative potential for the market for this type of therapy to grow.
By Product, The HRT market is divided into testosterone replacement therapy, thyroid replacement therapy, parathyroid hormone replacement therapy, and estrogen and progesterone replacement therapy. In 2021, the sector for estrogen and progesterone replacement therapy had the biggest market share of 53.15%. An increase in the number of women experiencing menopause was blamed for the dominance. The American Congress of Obstetricians and Gynecologists estimates that 6,000 women in the United States go through menopause every day.
The HRT market is divided into oral, parenteral, transdermal, and other segments based on the route of administration. Because it is so easily administered and has a high prescription rate, the oral segment ruled the market in 2021. Tablets and pills are typically included in HRT medicines. HRT medications frequently contain tablets and pills.
By disease type, The HRT market has been divided into menopause, male hypogonadism, hypothyroidism, growth hormone insufficiency, and hypoparathyroidism. In 2021, the menopausal category led the market due to the increasing number of women experiencing menopause.
In terms of income share, North America dominated the global market for hormone replacement treatment in 2021. Over the projection period, calculations like improvements to the systems for delivering medications, the development of new information, and an increase in the number of target populations in North America will continue to maintain their position. On the other hand, Asia Pacific is forecast to experience the fastest growth between 2022 and 2030. Growing levels of awareness and increased focus on the treatment of hormonal deficiencies by medical service providers are expected to support market growth in the area.
- Eli Lily And Company
- Hoffmann-La Roche Ltd. (Genentech, Inc.)
- Abbott Laboratories
- Bayer Ag.
- Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.)
- Novartis International Ag
- Novo Nordisk A/S
- Merck Kgaa
- Mylan N.V. (Viatris Inc.)
- Pfizer Inc.
The market for hormone replacement therapy will grow at a strong CAGR of 7.83%, from a value of $24.97 billion in 2021 to $49.25 billion by 2030. The rise in medication development with novel delivery technologies, the rising prevalence of hormonal imbalance diseases among the aging population, and increased awareness of post-menopausal concerns among women are some of the key drivers driving the growth of the hormone replacement therapy market.